An increasing number of retailers appear to be coming out in opposition to a recent proposed settlement of a large anti-trust case centering on credit card interchange.
At its heart, the complicated dispute addressed both the rules under which the card brands insisted retailers accept their cards as well as the fees they paid for that acceptance. If approved, the settlement will see $8.25 billion eventually move from the card brands and major card issuers into the coffers of participating retailers as well as give retailers the right to surcharge transactions in which consumers use cards instead of cash or checks.
But several retail associations have advised their members to not agree to the proposed settlement and now one of the largest volume retailers, Walmart, has also come out in opposition.
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